Alpine Texworld Limited IPO Overview
Incorporated in 2016, Alpine Texworld Limited is an Ahmedabad-based integrated textile manufacturer engaged in the manufacturing and trading of grey fabric and cotton yarn, with operations spanning fabric dyeing, weaving, spinning, and yarn sizing. The company started production in 2017 and has steadily expanded its manufacturing footprint in Gujarat, leveraging the state’s strong cotton ecosystem and textile infrastructure. It operates 112 Toyota shuttleless air-jet looms with an installed weaving capacity of 180 lakh metres annually, a Karl Mayer sizing machine capable of processing 6,650 metric tonnes of yarn per year, and four Saurer open-end rotor spinning machines with an annual capacity of 6,000 metric tonnes. The company specialises in producing denim, suiting, shirting, and ready-for-dyeing (RFD) fabrics catering to garment manufacturers and textile traders across the country. Apart from textiles, the company has diversified into renewable energy, operating an 820 KW rooftop solar plant commissioned in January 2024 and a 5.4 MW ground-mounted solar project in Banaskantha commissioned in March 2025 — helping reduce production costs and improve operational efficiency.
The company is now launching its Mainboard IPO on both BSE and NSE. The IPO is a 100% fresh issue of 1,20,24,000 equity shares aggregating to ₹126.25 crore with no offer-for-sale component, meaning all proceeds will flow directly into the company. The price band is ₹100 to ₹105 per share, with a lot size of 142 shares, making the minimum retail investment approximately ₹14,910. The IPO opens on 14 July 2026 and closes on 16 July 2026, with listing expected on 21 July 2026 on both BSE and NSE.
IPO Detailed Information
Issue Details
| Parameter | Details |
| IPO Type | Book Built – Mainboard |
| Listing Exchange | BSE & NSE |
| Anchor Investor Date | 13 July 2026 |
| IPO Open Date | 14 July 2026 |
| IPO Close Date | 16 July 2026 |
| Allotment Date | 17 July 2026 (Expected) |
| Refund Initiation | 18 July 2026 |
| Credit to Demat | 18 July 2026 |
| Listing Date | 21 July 2026 (Tentative) |
| Price Band | ₹100 – ₹105 per share |
| Face Value | ₹10 per share |
| Lot Size | 142 shares |
| Minimum Investment (Retail) | ₹14,910 (1 lot) |
| Maximum Investment (Retail) | ₹1,93,830 (13 lots = 1,846 shares) |
| Issue Size | ₹126.25 crore |
| Fresh Issue | 1,20,24,000 shares (₹126.25 crore) |
| Offer For Sale (OFS) | Nil |
Note: The entire IPO is a fresh issue — no offer-for-sale component. All proceeds go directly to the company.
Issue Break-up
| Category | Allocation |
| Qualified Institutional Buyers (QIB) | ~1% |
| Non-Institutional Investors (NII/HNI) | ~29% |
| Retail Individual Investors (RII) | ~70% |
Note: With 70% allocation reserved for retail investors, this IPO is heavily retail-friendly, significantly improving allotment probability for individual investors.
OFS / Selling Shareholders
There is no Offer For Sale (OFS) in this IPO. The entire issue is a fresh issue — no promoter is exiting, and all funds raised will be used for company expansion and debt reduction.
Objects of the Issue (Fund Utilization)
The company plans to use the net IPO proceeds as follows:
- Setting up a new weaving unit at proposed Manufacturing Unit 3 to expand production capabilities — ₹30.71 crore
- Repayment / prepayment, in part or in full, of certain outstanding borrowings — ₹52.20 crore
- General corporate purposes — remaining proceeds
Lead Managers & Registrar
- Book Running Lead Manager: D&A Financial Services Pvt. Ltd.
- Registrar to the Issue: Kfin Technologies Ltd.
- Website: https://ipostatus.kfintech.com/
Promoters & Management
The company is promoted by:
- Mr. Sumit Champalal Agarwal
- Mr. Sandeep Santkumar Agarwal
- Mr. Sachinkumar Santkumar Agarwal
The promoters bring operational and industry expertise in the textile manufacturing and fabric processing space. Unlike many IPOs where promoters partially exit, Alpine Texworld is raising fresh capital primarily to expand manufacturing capacity and strengthen its balance sheet, reflecting promoter confidence in the business.
Company Details
Alpine Texworld Limited is an integrated textile manufacturer with spinning and weaving capabilities, engaged in the production of grey fabric, yarn, and value-added processed fabrics. Through backward integration, the company commissioned a dedicated spinning facility in 2025, reducing dependence on third-party yarn suppliers and improving cost control. The company serves garment manufacturers and textile traders across India and caters to a diversified product portfolio including denim, suiting, shirting, and RFD fabrics.
Sectors Served:
- Textile & Apparel
- Garment Manufacturing
- Fabric Trading & Processing
- Renewable Energy (Captive Solar)
Key Products:
- Grey Fabric (Denim, Suiting, Shirting, RFD)
- Cotton & Blended Yarn
- Sized Yarn (Yarn Sizing Services)
Key Capabilities:
- 112 Toyota shuttleless air-jet looms — installed weaving capacity of 180 lakh metres per year
- Karl Mayer sizing machine — processing capacity of 6,650 metric tonnes of yarn per year
- Four Saurer open-end rotor spinning machines — annual capacity of 6,000 metric tonnes
- 820 KW rooftop solar plant (commissioned January 2024) + 5.4 MW ground-mounted solar plant in Banaskantha (commissioned March 2025)
Manufacturing Facilities:
- Two manufacturing units in Ahmedabad, Gujarat
- Block No. 614-1105, Village Paldi, Pirana Miroli Road, Paldi Kankaj, Dascroi, Ahmedabad — 382425
Financial Snapshot
| Period | Revenue (₹ Cr) | PAT (₹ Cr) |
| FY25 | ₹237.66 | ₹8.63 |
| FY26 | ₹350.18 | ₹21.72 |
Key Financial Metrics
- Revenue grew ~47% YoY from FY25 to FY26 — strong topline momentum driven by capacity additions
- PAT surged ~152% YoY — reflecting significant operational leverage and margin improvement
- Pre-IPO P/E: ~12.68x | Post-IPO P/E: ~18.49x
- Compared to listed peer United Polyfab (P/E of 31.60x), the IPO leaves reasonable valuation headroom
- Debt remains relatively high — but ₹52.20 crore of IPO proceeds are earmarked for debt repayment, which is expected to reduce finance costs and improve net margins going forward
Company Strengths
- Vertically integrated operations spanning spinning, weaving, sizing, and fabric processing — giving the company cost and quality control across the value chain
- Exceptional financial performance in FY26 — 47% revenue growth and 152% PAT growth, indicating strong operating leverage
- 100% fresh issue with no promoter exit — all proceeds directed towards capacity expansion and debt reduction
- Strategic investment in captive renewable energy (6.22 MW combined solar capacity) significantly reduces electricity costs and improves operational margins
- Equipment from globally reputed brands (Toyota, Karl Mayer, Saurer) ensures high-quality production standards
- Large 70% retail allocation improves allotment probability for individual investors
- Reasonable valuation at 18.49x post-IPO P/E compared to listed peers trading at higher multiples
Key Risks & Challenges
- Cyclical industry: The textile sector is subject to demand and raw material price cycles — cotton and yarn price fluctuations can significantly impact margins
- High debt level: Borrowings remain relatively high even after IPO proceeds are used for repayment — continued finance costs may weigh on profitability
- Concentration in Gujarat: Both manufacturing units are located in Ahmedabad, creating geographic concentration risk for operations
- Export demand sensitivity: Any decline in global demand for Indian textiles or adverse forex movements can impact revenue from exports
- Single-segment dependence: Core business remains fabric and yarn manufacturing — limited diversification outside textiles beyond captive solar
- Sustainability of FY26 growth: The 152% PAT jump in FY26 sets a high base — maintaining or improving this trajectory will require successful execution of the new weaving unit expansion
Disclaimer:
This document is for informational purposes only and should not be considered as investment advice. Investors should read the Red Herring Prospectus (RHP) carefully and consult a financial advisor before investing in any IPO. Market investments are subject to risk.
